Japan third-quarter GDP growth revised up

News Image

MG News | December 09, 2019 at 10:39 AM GMT+05:00

0:00

Dec 09, 2019: Japan's growth in the July-September quarter was greater than initially estimated, thanks to strong pre-tax hike consumption and corporate investment, government data showed on Monday.

The economy expanded 0.4 percent in the third quarter to September, better than the 0.1 percent growth recorded in preliminary data released last month, the latest Cabinet Office data showed.

The revision beat the market consensus of 0.2 percent growth, and came after 0.5 percent growth seen in the previous period.

Corporate investment and household consumption were stronger than initially thought, helping the world's third biggest economy to keep growing despite a drop in exports amid ongoing global trade tensions, the government said.

Analysts had pointed out that consumers rushed to make purchases before a controversial consumption tax hike from eight percent to 10 percent on October 1.

Japan's household spending surged 9.5 percent year-on-year in September, according to official data released last month, as consumers rushed to complete purchases of furniture and other big-ticket items ahead of the rate rise.

Some analysts expect a backlash in the fourth quarter as consumption slows after the tax hike.

AFP/APP

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 18, 2025 at 07:21 PM GMT+05:00

Pakistan strengthens UK trade links


July 18, 2025 at 05:36 PM GMT+05:00

Pakistan, China set to advance agricultural innovation


July 18, 2025 at 05:10 PM GMT+05:00

PSX Closing Bell: Riding High, Ending Low



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg